ITEM 5.03. Amendments to Articles of Incorporation; Change in Fiscal Year
After the close of business, and immediately following the special dividend
described below, on November 30, 2020, Apartment Investment and Management
Company ("Aimco") effected the previously announced 1-for-1.23821 reverse split
of its outstanding shares of common stock (the "Reverse Stock Split"). Aimco has
filed Articles of Amendment (the "Articles of Amendment") to amend its charter
to effect the Reverse Stock Split, effective immediately after the issuance of
shares in Aimco's previously announced special dividend on November 30, 2020,
and Aimco's common stock began trading on a post-split basis on December 1,
2020. Pursuant to the Articles of Amendment, every 1.23821 shares of Aimco's
issued and outstanding shares of common stock were combined into one issued and
outstanding share of common stock. No fractional shares were issued in the
Reverse Stock Split, and cash will be paid in lieu of any fraction of a share to
which a stockholder would otherwise be entitled.
The description of the Articles of Amendment set forth herein is qualified in
its entirety by reference to the full text of the Articles of Amendment, which
is filed as Exhibit 3.1 to this report and is incorporated herein by reference.
ITEM 8.01. Other Events.
On December 1, 2020, Aimco announced the results of the stockholders' elections
relating to the special dividend of $8.20 per outstanding share of common stock
as of the close of business on November 4, 2020. The special dividend consists
of approximately $121.8 million in cash and 35,386,723 shares of common stock
(without giving effect to cash paid in lieu of fractional shares), and was
payable after the close of business on November 30, 2020.
ITEM 9.01. Financial Statements and Exhibits.
The following exhibits are furnished with this report:
Exhibit
Number Description
3.1 Articles of Amendment of Apartment Investment and Management Company.
99.1 Press release dated December 1, 2020
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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